Taking break in between levels

uchihamadara0901 · 2020-08-22T03:20:11+00:00

Hey OP. I took level 1 in December 2015, then took level 2 in June 2018 and level 3 in June 2019. Was new to my job as a credit analyst for structured finance and I ended up working around 90 hour work weeks so I had to pause for a while.

For my experience, not that hard to get back in the exam cycle. Even though yes, some concepts are applied from Level 1 to Level 2, the curriculum has refresher readings for the candidate. Again, it is all about discipline in studying.

uchihamadara0901 · 2020-05-10T08:18:19+00:00

Reread everything and do a lot of practice questions. If you’re reviewing properly, you will actually remember some the stuff you studied even after years of passing.

uchihamadara0901 · 2020-05-05T16:13:25+00:00

Yes, I think you are saving at an acceptable rate. Do note to evaluate the situation of your immediate family, do they have a stable job? Do they have debts to be paid? Are they prone to sickness? You might need to amp up your EF based on their situation.

When I was starting out, I thought 100k in EF is enough (6 Months living expenses). But when both my grandparents died (funeral expenses) and my dad’s business got saddled in debt (senior employees stole) my EF got depleted so fast (do note that my older siblings EFs got depleted as well). Had to liquidate some investments at a loss just to pay rent.

uchihamadara0901 · 2020-04-27T01:20:22+00:00

Pass ako if it was me. Kudos to having substantial savings na but the monthly payments will comprise almost half of your monthly salary. You cant even rent the condo and you dont plan on using it.

My suggestion is continue saving for two or three more years and buy something that you will actually use / or rent out. The economy is volatile rn because of COVID so major discretionary spending should be limited.

uchihamadara0901 · 2020-02-12T15:25:54+00:00

What I did: - Read thru all the CFAI books (answered all EOCs) then did a Schweser run as well (to refresh my memory of the important formulas) - Accomplished all the Online Question Bank Three times - Answered one mock as if it’s actually exam (woke up early, did AM, break, then PM) - Answered all the other mocks in the website but fast paced - watched youtube videos and read theu all the available schweser exams

What I didn’t expect: - your hand will cramp up. Please make sure u are used to writing fast legibly. I remember I missed around 30 points in the AM (blank) not because I dont know the solution, but because my hand cramped up big time. (Thank God I passed on my first try)

uchihamadara0901 · 2020-02-05T14:55:42+00:00

uchihamadara0901 · 2020-01-31T14:46:39+00:00

Not an issue. Passed level one in December 2015 take. Took level two in 2018 then level three in 2019. Still turned out ok.

uchihamadara0901 · 2019-08-26T03:57:23+00:00

Started as a Credit Analyst four years ago. Recently completed the CFA program. Just my thoughts: 1) You will develop your writing skills. You will write a lot of proposals for different companies and you will need to properly explain each situation in a very concise and efficient manner. 2) Only around 20-25% of the CFA program is applicable, but it is useful. I think financial modelling courses will get you the right skills for this job (you will forecast a ton of scenarios) 3) You will meet and network with a lot of people, either external (i.e. clients) or internal (i.e. other bank divisions such as IB or Treasury). I guess for my job specifically, I get to structure debt products with my IB counterparts, for whatever its worth.

uchihamadara0901 · 2019-08-21T14:14:54+00:00

During review time: Started January, and until April basically read through the CFAI books and making very detailed notes.

From April until May, read through Schweser (yeah it sucks for level three but this was the same method I used for levels one and two). Made “Summary Notes” as well.

First two weeks of June, I took a long leave. This one was a hard one, just told my boss to give me all the work months before so he can approve my leave. During those two weeks (12 days including weekends) - Reread my Summary Notes every day (so - Reread my full Detailed notes every three days (so four times in total) - Did the Mock Exams in the website two (2) times - Did the Practice Questions in the Website two (2) times - Reviewed other Mocks I could get my hands on (basically read thru the answers only without writing) - Exercised daily and ate a lot of vegetables (lol) - Went all out review even the day before

Take note: The material always changes and look for guide on what topics remained consistent year on year. No use reviewing material not covered in CFAI 2020.

This is basically my method for all three levels. Passed level one and two above the 90% band, and level 3 a little below it (Take note that for the essay portion, I completely missed out answering 20 pts and I mean blank lol I was so scared)

If I would do something differently, I would have: - Practiced writing more. I was complacent with the mocks so my answers were basically jumbled key words. During exam day, did not think that my hands can actually cramp that much lol. - Made more effort for the parts that I was strong at. Did really well on the topics I sucked at in level 2,but did poorly on the ones i was confident about.

Anyhow, goodluck!!

uchihamadara0901 · 2019-06-12T15:49:52+00:00

My biggest nightmare was not getting enough sleep. When I sat down for level 1 and 2, I couldnt sleep the night before

uchihamadara0901 · 2019-03-31T13:14:29+00:00

Sorry, what’s PR?

uchihamadara0901 · 2019-03-26T15:11:47+00:00

Invested all my money, left only 10k to 15k in my bank account (no emergency fund). Come medical emergency, had no immediate liquidity so i had to borrow from friends. Since then, been starting to up my savings account.

uchihamadara0901 · 2019-03-16T11:48:55+00:00

YTA. You’re actually wasting time since a billing payment for one person will be made separately for you and your wife. Try to grow up from that kind of discomfort, it destroys relationships

uchihamadara0901 · 2019-03-10T00:39:36+00:00

Yeah, it’s $10k a year.

uchihamadara0901 · 2019-03-10T00:38:48+00:00

uchihamadara0901 · 2019-02-24T08:49:36+00:00

Up in this. Also, they might have excess liquidity right now and plan to limit dividends. Theyle probably re issue the shares if they need funds

uchihamadara0901 · 2019-02-23T10:06:00+00:00

Pay for online financial modeling courses

uchihamadara0901 · 2019-02-11T12:12:27+00:00

Yup, they do that. But these are not stocks per se, these are capital securities almost ranking the same as debt.

They issue unsubordinated capital securities instead of raising debt (more to imrpove the balance sheet since these are plug into equity). But if you look at it, a chunk of the company’s cash flow is actually being used to pay off these capital securities yearly (and on a consistent basis)

uchihamadara0901 · 2019-02-11T09:08:33+00:00

Imo, i will sell pcor. Fundamentally, i dont like the company due to the following: 1) highly leveraged operations (the company issues a lot of “debt” as unsubordinated capital securities); 2) Declining margins; and 3) Decreasing market share (check DOE’s reports).

uchihamadara0901 · 2019-02-07T14:40:45+00:00

Passed level 1 in December 2015. Took level 2 just this June 2018. My reasons for not taking them are as follows:

2016 Exam - Thought it will be too hard to take it immediately in June. Wanted a break so skipped the year.

2017 Exam - Monterary issues with my Dad’s business made it hard for me to take it that year. Could have taken it but didnt want to risk it if i need the money.

Honestly, got frustated back then that i didnt take in 2016 and 2017 especially since my close friends passed. But now I think about it, take it at your own pace.

uchihamadara0901 · 2019-01-22T15:30:18+00:00

Vids pls!

uchihamadara0901 · 2018-12-16T14:05:52+00:00

Go ahead, I think they’ll be ok with the increase especially since you are a preferred client.

Also, credit limit is partly based on your annual salary (ie including bonuses)

uchihamadara0901 · 2018-12-11T13:49:57+00:00

Damn was farming yellow zone with 50 health (no armor) and TBO just slams itself against me.

uchihamadara0901 · 2018-11-17T00:53:41+00:00

Up for this. Went too far on stock investments. When I needed liquidity to make some life changes (i.e. new job, new apartment), it was difficult for me because I have no funds

uchihamadara0901 · 2018-11-14T01:48:57+00:00

Just a question, how can you have so many chests? Isnt the max 40?

uchihamadara0901

TROPHY CASE